Facebook to Launch Crypto for WhatsApp

The social network Facebook is working oncreatingcryptocurrencyfor its messenger WhatsApp.With the help of the newborn coin,userswill be able tosendmoneyto each other.

According to Bloomberg, Facebookcreatesa stablecoin, which will be pegged to the US dollar.This is necessary to reduce thevolatilityof the crypto.Initially, cryptocurrency will be available in India. Meantime, the social network’s coin is far from being launched, because the company needs to develop a strategy, including plans for keeping reserves.

Facebook did not confirm but didnotdeny the information.Accordingto the company, the social network is constantly exploring the possibility of using blockchain technology. This is exactly what a small team ofprofessionalsis doing, led by the ex-president of PayPal David Marcus, who headed WhatsApp in 2014.